February 26, 2018Dear [redacted]:I represent the Fairville Companies, CAG Truck Capital, Inc. and their af?liated companies(collectively, the “Company”) and have been asked to respond to the above-referencedcomplaint.The Company is a commercial lender that ?nances truck purchases and engine...
overhauls forcommercial trucking businesses. The Company does not make, and does not solicit, consumerloans of any type. In this matter, the Company received a loan application from [redacted], LLC(“[redacted]”) on September 4, 2017 (the “Application”). I have attached a copy of theApplication, from which I have redacted certain personal information. [redacted] thecomplainant in this matter (“[redacted]”), executed the Application electronically as the owner of[redacted]. As a condition to making the Application, [redacted] agreed that the Company couldcontact credit bureaus to verify the information in the Application, with the aim of making acredit decision for [redacted].Regarding [redacted]’s factual allegations, she fails to state that the Application was for a commercialloan and not a consumer loan. [redacted] also fails to mention that she gave written consent to theCompany as a named borrower on the Application for the Company to contact credit bureaus tomake a credit decision. Once the Company contacts the credit bureaus, the credit bureaus, as amatter of cotnse, note such inquiry, in this case as a “non-account holding hard inquiry.” TheCompany has no discretion in this. At no point did the Company create an “account,” since theCompany declined to extend credit in this matter. Finally, the Company does not have anyrecord of its receipt of any complaint by [redacted] regarding her credit report until her letter datedFebruary 10, 2018.Further, [redacted]’s understanding of the law is incorrect. Under the federal ESIGN Act and the Georgia Uniform Electronic Transactions Act, electronic signatures are valid for any purpose, including loan applications, and documents that are signed electronically have the same effect as ink originals. In addition, given that this was an application for a commercial, and not a consumer, loan, the Fair Credit Reporting Act does not apply to this Application, since it applies only to “consumer reports” as de?ned in the FCRA.The Company believes that [redacted]’s allegations in this complaint are unfounded. The Company legally queried the credit bureaus in a commercial transaction to which [redacted] consented in writing. The information regarding the Company’s legitimate query related to a commercial loan, if reported correctly, is beyond the Company’s power. F Luther, since the Application concerned a commercial loan, the FCRA does not apply.If, however, [redacted] wishes the Company to make any clari?cation to any report, she will need to specify, in writing and with speci?city, what items she believes are incorrect. At that point, the Company will determine what, if any, clari?cations are necessary.Please feel free to call me if you have any further questions.Very truly yours,Christopher F.
February 26, 2018Dear [redacted]:I represent the Fairville Companies, CAG Truck Capital, Inc. and their af?liated companies(collectively, the “Company”) and have been asked to respond to the above-referencedcomplaint.The Company is a commercial lender that ?nances truck purchases and engine...
overhauls forcommercial trucking businesses. The Company does not make, and does not solicit, consumerloans of any type. In this matter, the Company received a loan application from [redacted], LLC(“[redacted]”) on September 4, 2017 (the “Application”). I have attached a copy of theApplication, from which I have redacted certain personal information. [redacted] thecomplainant in this matter (“[redacted]”), executed the Application electronically as the owner of[redacted]. As a condition to making the Application, [redacted] agreed that the Company couldcontact credit bureaus to verify the information in the Application, with the aim of making acredit decision for [redacted].Regarding [redacted]’s factual allegations, she fails to state that the Application was for a commercialloan and not a consumer loan. [redacted] also fails to mention that she gave written consent to theCompany as a named borrower on the Application for the Company to contact credit bureaus tomake a credit decision. Once the Company contacts the credit bureaus, the credit bureaus, as amatter of cotnse, note such inquiry, in this case as a “non-account holding hard inquiry.” TheCompany has no discretion in this. At no point did the Company create an “account,” since theCompany declined to extend credit in this matter. Finally, the Company does not have anyrecord of its receipt of any complaint by [redacted] regarding her credit report until her letter datedFebruary 10, 2018.Further, [redacted]’s understanding of the law is incorrect. Under the federal ESIGN Act and the Georgia Uniform Electronic Transactions Act, electronic signatures are valid for any purpose, including loan applications, and documents that are signed electronically have the same effect as ink originals. In addition, given that this was an application for a commercial, and not a consumer, loan, the Fair Credit Reporting Act does not apply to this Application, since it applies only to “consumer reports” as de?ned in the FCRA.The Company believes that [redacted]’s allegations in this complaint are unfounded. The Company legally queried the credit bureaus in a commercial transaction to which [redacted] consented in writing. The information regarding the Company’s legitimate query related to a commercial loan, if reported correctly, is beyond the Company’s power. F Luther, since the Application concerned a commercial loan, the FCRA does not apply.If, however, [redacted] wishes the Company to make any clari?cation to any report, she will need to specify, in writing and with speci?city, what items she believes are incorrect. At that point, the Company will determine what, if any, clari?cations are necessary.Please feel free to call me if you have any further questions.Very truly yours,Christopher F.